Inheritance And Trust Creation
Location: Texas, USA
Some day when my mother passes I expect to inherit half of her estate. According to her will, her estate will be split between my brother and myself since my father is already dead and she hasn't remarried. I'm also listed as the executor of her estate. My hope is that she passes many years from now when I'm ready to retire but she is in her late 60s so its not unthinkable. The problem is that I'm not in a mental state where I would want access to my share of the money right away and I also don't want my wife to have access. I know that I could ask her to restructure the will to put it into a trust(s) of some sort from my children and put appropriate age restrictions on it.
My question is, instead of changing her will, can I leave the will as is (I get half) and put my inheritance into trust for my kids? Would that lock the money away for only them or could I change my mind later? Would my wife immediately have a legal claim to that inheritance?
Thank you.
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